Daily Mining Industry Report: March 17, 2025

Daily Mining Industry Report: March 17, 2025

Canadian Developments

• Glencore Proposes Acquisition of Li-Cycle
  Glencore has made an offer to acquire Canadian lithium battery recycling company Li-Cycle to address its operational and financial challenges. Glencore holds convertible debt in Li-Cycle amounting to approximately 84 million shares. Li-Cycle has formed a special committee to evaluate the proposal, with no guarantee of a finalized transaction. ​Reuters+1MINING.COM+1

• Canada Nickel Forms and Partially Sells RoyaltyCo Subsidiary
  Canada Nickel announced the formation and partial sale of its RoyaltyCo subsidiary, receiving $8 million in cash and 8.9 million shares, resulting in a 62% interest in RoyaltyCo. ​PR Newswire

• Agnico Eagle's Investment in Collective Mining Ltd.
  Agnico Eagle Mines Limited has announced an investment in Collective Mining Ltd., with the closing of the private placement expected around March 20, 2025, subject to certain conditions. ​PR Newswire

Global Developments

• Simandou Mining Project Advances in Guinea
  Guinea's junta plans to open the Simandou mining complex this year, which includes the world's largest untapped iron ore deposits estimated at 2.8 billion tonnes. The project encompasses a 650km railway, three seaports, and infrastructure aimed at boosting the local economy. Challenges such as safety, environmental concerns, and transparency persist, with some analysts predicting production may not commence until 2028. ​The Guardian

• Indonesia Extends Freeport's Copper Export Permit
  Indonesia will grant Freeport Indonesia a six-month permit to export copper concentrate while its Gresik smelter undergoes repairs following an October fire. This permit ensures continued royalty payments to the government and allows Freeport to address the smelter issues promptly. ​Reuters

• Southern Copper Faces Attack at Peruvian Project
  Southern Copper reported that 20 workers and security personnel were injured in an attack by informal miners at its Los Chancas exploration project in southern Peru. Images on social media depicted the mining camp in flames, reminiscent of a similar incident in 2022. ​MINING.COM+2MINING.COM+2MINING.COM+2MINING.COM+2MINING.COM+2MINING.COM+2

• Ramaco Resources' Wyoming Rare Earth Project Receives Grant
  Ramaco Resources has secured a $6.1 million matching grant from the Wyoming Energy Authority for its Carbon Ore Rare Earth (CORE) Brook mine project, aiming to advance rare earth element extraction in the region. ​MINING.COM

• Baru Gold's Investment Deals Collapse
  Baru Gold's stock has plummeted following the breakdown of investment agreements intended to fund the development of the Sangihe gold project in Indonesia, raising concerns about the project's future. ​MINING.COM

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